News by Choy Nyen Yiau

The Master Builders Association Malaysia (MBAM) has urged the government to reconsider the impending revision and expansion of the sales and service tax (SST) on construction services, citing concerns that the move will strain the industry’s cash flow.

Ho Hup Construction Co Bhd (KL:HOHUP), which slipped into Practice Note 17 (PN17) status earlier in April, has defaulted on revolving credit facilities from AmBank Islamic Bhd amounting to RM45.3 million.

The Malaysian Anti-Corruption Commission (MACC) will apply to forfeit the 60-storey Ilham Tower, worth about a billion ringgit, owned by the late Tun Daim Zainuddin’s family, a report says.

Toh Puan Na'imah Khalid, widow of the late former finance minister Tun Daim Zainuddin, will immediately challenge the Malaysian Anti-Corruption Commission’s (MACC) second seizure of Ilham Tower in court, said her lawyers.

The Malaysian Anti-Corruption Commission (MACC) has once again seized Ilham Tower in Jalan Binjai here, owned by the family of the late Tun Daim Zainuddin, this time in connection with alleged money laundering.

Malaysia on Tuesday announced plans for the development of ‘Madani City’ in Putrajaya, aiming to advance both sustainable and high-tech living.

Loss-making Ta Win Holdings Bhd (KL:TAWIN) is disposing of a parcel of industrial land with a single-storey detached factory in Port Klang to Metal Recovery Industries Sdn Bhd (MRI) for RM44.5 million.

Kerjaya Prospek Group Bhd (KL:KERJAYA) posted a 37% rise in net profit for the first quarter (1Q), supported by higher revenue from improved progress in construction activities.

TCS Group Holdings Bhd (KL:TCS) said it has secured a RM216.9 million contract to undertake the construction of two 48-storey serviced apartment blocks in Subang Jaya.

Taghill Holdings Bhd (KL:TAGHILL), formerly known as Siab Holdings Bhd, announced on Friday that it has secured a RM494 million construction contract in Bandar Sri Damansara, Selangor.